We reported last month on HMV Group plc (LON:HMV) (OTCMKTS:HMVMF) pulling out of Ireland, citing Ireland’s Upward Only Rent Review legislation as a main reason. Well, now it seems that four Irish stores are set to reopen, having renegotiated more favorable leases with landlords in a move that will create 100 jobs by the end of this summer. Despite concerns over the viability of HMV’s business model, the news could give hope to other businesses suffering as a result of UORR clauses.
HMV playing hardball with the landlords
The reborn HMV Group plc...
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